We have retained some employees in service after their 58 years in our company retirement age is fixed at 58 years. but we retained them as they are still efficient and want to work. my question is it compulsory by law to EDLI admin charges remittance from management? waiting for your suggestions.
14th June 2019 From India, Ahmedabad
Dear Member, you have not mentioned whether Employees who have Crossed Retirement age of 58 Years still Continue to be Members of EPF?
All EPF Members continue to be EDLI Members irrespective of Age.EDLI Wage Ceiling:Rs15,000/-
A/C # 21 Portal will Calculate based on EDLI Wages @ 0.50%
14th June 2019 From India, New Delhi
After retirement if some one working continue in company than he/she has exepmted from EPFO EDIL services not aplicable to them.
15th June 2019 From India, Delhi
It is not compulsory,but if your management wishes you may deducted his PF contribution, and full employers contribution has to be done Employers PF share.
For Example if the Basic salary is Rs.15,000/-
Before retirement :
Employers EPS contribution is 1,249/- EPF contribution is 551/- = Total 1,800/-
After retirement :
Employers EPS contribution is 0/- EPF contribution is 1,800/- = Total 1,800/-
HR - Head
Seapol Group
17th June 2019 From India, undefined
Hi HR Manager,
Your query is related to EDLI for employees whose ages is more than 58 years.
The answer is Yes.....you have to deposit EDLI contribution for such an employee who has crossed 58 years of age and continues as an employee.
Regarding, EDLI Admin Charge ( A/c 22),since May 2017, it has been discontinued vide EPFO Notification, which states that "for time being the No admin charge is to be paid". However,in practical situation I see lot of companies are still depositing EDLI Admin Charge primarily, on account of two reasons,
1) Due to ignorance
2)Reputed companies who want to be on the right side of law and do not want to take any chances with this "for the time being" clause
Hope this clarifies your doubt.
20th June 2019 From India, Ghaziabad
Add Reply Start A New Discussion

Cite.Co - is a repository of information created by your industry peers and experienced seniors. Register Here and help by adding your inputs to this topic/query page.
Prime Sponsor: TALENTEDGE - Certification Courses for career growth from top institutes like IIM / XLRI direct to device (online digital learning)

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2019 Cite.Co™